Sounds like Ur-energy is going to idle its production,.. how many US producers are left,... ITS A national Security threat..
Mr Trump will do what he said,... Make US the leader in nuclear power,... section 232 was not supportive of the whole fuel cycle as Mr Trump wants to make US nuclear power the world leader.... No producers No US supply Mr Trump..
From Ur Q2,.... UrEnergy CEO, Jeff Klenda, said further, “While our first half 2019 results remain solid, they are not sustainable in the current uranium market. We were disappointed in the President’s decision regarding the Section 232 Trade Action. I am completely perplexed by those who fail to recognize the inherent risk of allowing primary U.S. production to be unfairly reduced to less than 1% of U.S. demand by foreign practices seeking to restrict U.S. commerce. As a result, we once again find ourselves in the position where we must take aggressive cost control measures to ensure the future viability of the Company. Our intention is to maximize the amount of time, or 5 “runway,” available to the Company while awaiting the results of the Working Group’s efforts. As always, avoidance of dilution to our shareholders remains among our highest priorities. At the same time, we will continue to pursue any and all remedies available to us, to remove such unfair practices in order to revive and expand domestic uranium production.” In light of the President’s decision, Ur‐Energy will now implement further cost reductions, including deep labor reductions, primarily at Lost Creek. We can no longer justify the added costs of maintaining full operational readiness as it relates to labor and have accordingly reduced staffing to the minimum levels necessary to maintain our facilities and meet regulatory compliance, while retaining core operational personnel who possess the critical knowledge necessary for the Company to ramp up when conditions warrant. This will enable the Company to maintain the Lost Creek facilities and preserve our ability to react to changing market conditions, while at the same time minimizing our need for additional funding during this protracted period of uncertainty.
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